The Real Burden on Pensions
Comparative Analysis Demonstrating the Fact That the City of Jacksonville's Past Millage Rate Reduction Program Was Largely Made Possible By The City's Recurring Declarations of Full or Partial Pension Contribution Holidays and Savings from the use of a 0% City Pension Contribution Rate for DROP Participants.
| MAYORS | FISCAL YEAR | MILLAGE RATE | Change From Previous Year |
|---|---|---|---|
| Tommy Hazouri | 1987-1988 | 11.5317 | 0 |
| 1988-1989 | 11.5317 | 0 | |
| 1989-1990 | 11.5317 | 0 | |
| 1990-1991 | 11.5317 | 0 | |
| Ed Austin | 1991-1992 | 11.2276 | -0.30 |
| 1992-1993 | 11.3158 | +0.09 | |
| 1993-1994 | 11.3158 | 0 | |
| 1994-1995 | 11.3158 | 0 | |
| John Delaney | 1995-1996 | 11.2158 | -0.10 |
| 1996-1997 | 11.1158 | -0.10 | |
| 1997-1998 | 11.0158 | -0.10 | |
| 1998-1999 | 10.9158 | -0.10 | |
| 1999-2000 | 10.7861 | -0.13 | |
| 2000-2001 | 10.5723 | -0.21 | |
| 2001-2002 | 10.3675 | -0.20 | |
| 2002-2003 | 10.1842 | -0.18 | |
| John Peyton | 2003-2004 | 9.8398 | -0.34 |
| 2004-2005 | 9.6879 | -0.15 | |
| 2005-2006 | 9.6500 | -0.04 |
| MAYORS | City Budget Avoidance from the use of Pension Reserve Accounts vs. General Fund Appropriations (Police and Fire Pension) | City Budget Avoidance from the use of Pension Reserve Accounts vs. General Fund Appropriations (General Employees Pension) | City Savings From 0% Contribution on DROP Participants |
|---|---|---|---|
| Tommy Hazouri- 1987-88 | $0 | $0 | $0 |
| 1988-1989 | $0 | $0 | $0 |
| 1989-1990 | $0 | $0 | $0 |
| 1990-1991 | $0 | $0 | $0 |
| Ed Austin-1991-1992 | $0 | $0 | $0 |
| 1992-1993 | $292,000 | $0 | $0 |
| 1993-1994 | $1,529,000 | $0 | $0 |
| 1994-1995 | $2,749,000 | $259,000 | $0 |
| John Delaney-1995-96 | $1,962,000 | $85,000 | $0 |
| 1996-1997 | $6,767,000 | $3,824,000 | $0 |
| 1997-1998 | $5,175,000 | $8,114,000 | $0 |
| 1998-1999 | $5,901,000 | $1,592,000 | $724,270 |
| 1999-2000 | $8,144,000 | $748,000 | $1,765,988 |
| 2000-2001 | $3,170,000 | $12,100,000 | $2,465,553 |
| 2001-2002 | $10,389,000 | $1,274,000 | $2,756,900 |
| 2002-2003 | $10,882,000 | $18,995,000 | $3,453,527 |
| John Peyton-2003-04 | $769,000 | $2,002,000 | $2,351,835 |
| 2004-2005 | $8,753,000 | $14,563,000 | $3,693,229 |
| 2005-2006 | $2,106,000 | $20,736,000 | $4,906,536 |
| TOTAL BUDGET AVOIDANCE | $68,588,000 | $95,742,000 | $22,178,838 |
|---|---|---|---|
| LOST EARNINGS | $56,787,838 | $53,669,039 | |
| COMBINED DOLLAR IMPACT | $125,375,838 | $149,411,039 |
FULL OR PARTIAL CONTRIBUTION HOLIDAY IMPACT TO BOTH PENSION PLANS:
CHARTS AND GRAPHS
Pension Comparisons
What do pensions have in common with sick children, The Florida Lottery, Door Burners, the Book of Genesis, and the Katrina Twins???